Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015- Intimation regarding Sale of stake in Lumax ....
LUMAXTECH · price
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Lumax Auto Technologies Ltd has approved the sale of its entire 50% equity stake in Lumax Jopp Allied Technologies Private Limited (LJAT) to Jopp Holding GmbH, Germany, the existing Joint Venture Partner. The transaction involves 70,55,000 equity shares for a consideration of Rs. 1,52,500 (approximately Rs. 1.53 lakhs). The deal is expected to close by June 30, 2026, subject to customary conditions. LJAT contributed only Rs. 1,696.98 lakhs (0.35%) to the company's consolidated revenue and a negligible amount to net worth for FY2026. Following the sale, LJAT will cease to be a Joint Venture of the company. The company states this is part of its 'Northstar vision and Mid-term plan (FY 26 – FY 31)' for sharper focus on aligned businesses.
This is a minor portfolio realignment as the divested JV contributed less than 0.5% to revenue. The deal size is very small at around Rs. 1.5 lakh, indicating it was not a material asset. No significant impact expected on the stock, though it signals management's intent to streamline non-core operations.